PMCF Announces the Sale of Spartech’s Canadian Profile Extrusion Business to Acrylon Plastics
has sold its profile extrusion business in Canada to
P&M Corporate Finance (PMCF) is pleased to announce that it served as exclusive financial advisor to Spartech Corporation (NYSE:SEH, Spartech) in the sale of its Canadian profile extrusion business (Spartech Profiles) to Acrylon Plastics, Inc. (Acrylon). Based in Winnipeg, Canada, Spartech Profiles is a leading manufacturer of profile extrusions for the window, fence, and custom markets. Acrylon, also headquartered in Winnipeg, Canada, has over 30 years of experience and has a unique manufacturing diversity within the plastics industry by employing three plastics processes – profile extruding, rotational molding, and thermoforming.
Spartech Profiles products and production capabilities will complement Acrylon’s existing product lines and position the combined entity for future growth. “Spartech Profiles has a 20 year history of exceptional customer service, expertise in twin screw profile extruding and its extensive proprietary window system product lines. Additionally, this acquisition provides us with a second Winnipeg extrusion plant which brings us to 26 operating extrusion lines. With the Spartech Profiles acquisition, we are now one of the largest and most experienced extrusion companies in Canada. The combined capacity will allow us to provided additional capacity to service our customers as we continue to grow.” said Craig McIntosh, President of Acrylon.
Spartech’s decision to divest its Canadian profile extrusion business was consistent with its strategic plan and the specific objective to focus on core business platforms. Spartech Corporation is a leading producer of engineered thermoplastic sheet materials, thermoformed packaging, and polymeric compounds and concentrates. The Company has facilities located throughout the United States, and in Canada, Mexico, and Europe.
PMCF’s Plastics & Packaging team led a highly competitive sale process that ultimately resulted in a successful transaction with Acrylon, which closed October 5th, 2009.
About P&M Corporate Finance
P&M Corporate Finance, LLC is a middle market investment bank providing merger and acquisition advisory services to companies in North America and Europe. PMCF provides a broad range of services including sale advisory, acquisition advisory, capital raising, and strategic advisory. The firm has dedicated industry teams providing services to the plastics and packaging, life sciences, industrials, and business services industries. PMCF has offices in Chicago, Cleveland, and Detroit.
